Veteran fixed income manager Jim Leaviss has announced he will depart M&G Investments after almost 30 years.
Leaviss has worked at the FTSE-listed asset manager since 1997 and oversaw its $264 billion fixed income division for international investors. He also launched the well-known Bond Vigilantes fixed income blog in 2006.
His remit includes the firm’s investment grade credit, high yield credit, government bonds, emerging market debt, absolute return, multi-asset credit and annuities products. M&G’s flagship Optimal Income Fund, which was launched in 2006, is $2.6 billion while the Corporate Bond Fund is $2.2 billion.
In his place, the firm has appointed Andrew Chorlton who joins from a global head of fixed income role at Schroders. He will join M&G later this year and report to M&G Investments chief executive Joseph Pinto.
Cholrton has worked at Schroders in a variety of fixed income roles across the UK and US since 2013.
Leaviss, who is departing to go into academia, said: “It’s been a tremendous privilege to work at M&G for almost three decades and lead the team through the growth of bond markets during that time. I’m really proud of our team of fixed income professionals, the talent we’ve developed and what we’ve achieved for clients. Innovation is embedded into our culture, with the business having launched the UK’s first corporate and high yield bond funds, and how we communicate with clients with the launch of the Bond Vigilantes blog in 2006.
“Our investment range has grown dramatically, of note the launch of the M&G Optimal Income Fund which became one of the largest funds in Europe and our leading European credit capabilities that have an excellent reputation with international clients.”
Chorlton said: “I have enjoyed over a decade at Schroders both in New York and London and am proud of the strong fixed income platform that has been built. I wish them well for the future as I embark on the next stage of my career. I have long perceived M&G to be one of the leading fixed income managers and a strong competitor throughout my career given its history in the asset class. The team’s presence has been further amplified through their ability to bring bond markets to life and make fixed income engaging through their innovative way of communicating with clients and a wider audience.
“It is an honour to take on this role at a time when investors are increasingly seeking active managers with a global perspective built on a foundation of proprietary research to take advantage of the opportunities that present themselves in the bond market as clients’ need for income continues to grow.”
